China is a significant creditor of the US.
The
US possesses the power to "print money," which it uses to sustain
Washington's audacious habit of borrowing and spending recklessly,
exemplifying its dominant "style" of hegemony.
US debt has now
reached an alarming height - $33 trillion! That amounts to $100,000 per
American across the nation! What's even more concerning is its growth
rate, with an increase of $10 trillion in three years! That means $833 million is being added to the debt every hour since it crossed the $33 trillion mark.
The
US' containment of China, particularly through creating military
tensions in China's neighborhood, as well as the overall restriction on
Chinese manufacturing and its impact on the livelihoods of the Chinese
people, has heightened China's worry about the US reneging on its debts.
China's
National Day, which falls on October 1, is just around the corner. For
the Chinese people, September 30 marks the start of a seven-day holiday
following the Mid-Autumn Festival.
The hardworking Chinese
people, who are about to enjoy a wonderful holiday, know that they work
hard for the well-being of their families. If their hard-earned money
were to be used to prop up an empire's hegemonic and brutal actions, as
well as an unsympathetic political struggle, and then they were to be
paid back in the form of "printed money," they would definitely say
"no."
China cuts its holdings of US Treasury bonds for a fourth
consecutive month in July to $821.8 billion, a 14-year low. Singapore
still holds $186.1 billion of US Treasury bonds, a not insignificant
amount, and ranked 15th largest holder of US Treasury bonds.
Anonymous
3 comments:
The CNA documentary, which is titled “Singapore Reserves: The Untold Story | Singapore Reserves Revealed”, can be viewed on the CNA Insider channel on YouTube link:(https://www.youtube.com/watch?v=k1qXJFQpkiw).
This recent documentary showed that Singapore has 225.4 tonnes of gold.
That's just 5% of total MAS assets.
The rest of the reserve assets of Singapore’s central bank, which consist of holdings of securities (bonds and stocks) and foreign currencies.
Country Gold Reserves (Tonnes) - Gold as a Percentage of Total Reserves
France 2,436.0 Tonnes - 67.6%
Germany 3,359.7 Tonnes - 74.5%
Italy 2,451.8 Tonnes - 67.4%
Why do European countries like France, Germany, Italy hold at least 67% (two-thirds) of their total reserves in gold, while other countries like Singapore foolishly holds large portion of reserves in US Treasury debt?
The difference between a fool and a genius is only a thin line.
Singapore's finance is run by geniuses. See how well they defended the Sing dollar with $30 billion!!! Only geniuses can spent such a huge sum of money and claimed success. Oops, did they say it was a loss? OPM loss never mind. Sup sup suay!. Just raise more taxes, GST, all covers up.
What is $30,000,000,000?
Post a Comment